Trading Statement
January 21 2003 - 2:00AM
UK Regulatory
RNS Number:3873G
Thorntons PLC
21 January 2003
21 January 2003
SALES TRADING STATEMENT
28 WEEKS ENDED 11 JANUARY 2003
Thorntons PLC, the speciality retailer and manufacturer of high quality
chocolate, toffee and other sweet foods, today reports sales figures for the 28
weeks ended 11 January 2003.
* Total company sales increased by 2.3% to #104.7m in the 28 weeks.
* Own shop sales held up well and were virtually unchanged at #83.8m despite the
planned reduction in estate size, from 395 shops to 390, as poorer performing
shops were closed.
* Own Shop like-for-like sales over the half year showed two contrasting
pictures. Prior to the Christmas period there had been 27 consecutive weeks of
growth including the first 18 weeks of the financial year when cumulative like
for like growth was +5.8%. The 7 weeks of Christmas trading, to Saturday 28th
December, were -0.9% but this was against +8.0% for the comparable period last
year. Overall, the half year like for like sales performance was +1.6%, with
an improved margin.
* Franchise sales, at #7.7m, were up 9.7% and the number of outlets increased by
10 to 191.
* Commercial sales grew by 7.4% to #9.8m, the first real growth in over 4 years,
driven by distribution of Thorntons branded impulse products through third
parties.
* Thorntons Gift Delivery Service (Internet and Mail Order) continues to grow
strongly and sales rose by 37% to #3.4m.
* Royalty income from the licensed range of cakes, puddings, biscuits and other
sweet food was #251,000 in the half year. This compares with #56,000 in the
same period last year.
Peter Burdon, Chief Executive, commented: '"The strong sales performance over
the first 18 weeks gives us confidence that our underlying business offer is
improving and provides further evidence that we are moving strongly in the right
direction in a difficult economic environment. The success we are seeing through
a widening of the brand offer and new routes to market supports this.
Christmas was tough against a strong performance last year, but I am pleased we
improved our margin levels. Interim profits, whilst within the range of our
expectations, are likely to be towards the lower end of that range. Consequently
we are a little more cautious about the company prospects for the full year but
remain optimistic given the strength of our product offer ahead of the important
Valentines Day, Mothers Day and Easter trading periods."
Thorntons plc will be announcing their Interim Results on Tuesday February 25th,
2003
For further information, please contact:
Peter Burdon - Chief Executive, Thorntons PLC 01773 540550
Martin Allen - Finance Director, Thorntons PLC 01773 540550
Charles Ryland / Catherine Miles - Buchanan Communications 020 7466 5000
1. Interim Sales Analysis
First Half Sales First Half Sales Full Year Sales
2002/03 2001/02 2001/02
#m #m #m
Own shop 83.8 83.7 134.5
Franchise 7.7 7.0 11.3
Commercial 9.8 9.2 13.8
Gift Delivery Service 3.4 2.5 4.2
TOTAL 104.7 102.4 163.8
2. Comparison of 2002/2003 sales with the previous year
28 weeks ending 11 28 weeks ending Full Year
January 2003 12 January 2002 2001/02
Own shop -% 2.1% 2.3%
Franchise 9.7% 30.9% 22.6%
Commercial 7.4% (14.9)% (8.5)%
Gift Delivery Service 37.1% 100.1% 89.4%
TOTAL 2.3% 3.0% 3.7%
Own Shops like-for-like 1.6% 4.1% 3.6%
3. Changes in the retail estate can be summarised as follows
Opening number 395 400 400
New shops 2 2 3
Resites 2 1 3
Closures (9) (9) (11)
Closing number 390 394 395
Franchise shops trading 191 181 181
Royalties from licensed Products 251 56 189
(#000)
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTBMMATMMMTBPJ
Thorntons Plc (LSE:THT)
Historical Stock Chart
From Jul 2024 to Aug 2024
Thorntons Plc (LSE:THT)
Historical Stock Chart
From Aug 2023 to Aug 2024
